Phoenix Companies
Author: Chris Millar
(a) Can a creditor find out if a director has applied for permission to re-use a prohibited name?
If the director has used the exception under IR4.228 – yes; check with the London Gazette. If the application has been made pursuant to Insolvency Rule 4.229 – no; however check with the liquidator of the “liquidating company” (the phoenix company) as the director concerned will require the approval of the liquidator to such application. Otherwise, no.
(b) Can a director make an application for an extension of time to serve a Notice under Insolvency Rule 4.228 regarding use of a prohibited name?
Possibly, by reference to Insolvency Rule 12A.55(2), but any such application is discretionary, and should the director lose, then his “permission” will fail as a result.
(c) Does a director have to give notice pursuant to the exception at Insolvency Rule 4.228 to contingent creditors?
There is no authority, but probably yes.
